SENSEX NIFTY
State Trading Corporation of India > Company History > Trading > Company History of State Trading Corporation of India - BSE: 512531, NSE: STCINDIA
YOU ARE HERE > MONEYCONTROL > MARKETS > TRADING > COMPANY BACKGROUND - State Trading Corporation of India
State Trading Corporation of India
BSE: 512531|NSE: STCINDIA|ISIN: INE655A01013|SECTOR: Trading
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Jul 23, 12:40
216.00
-1.15 (-0.53%)
VOLUME 92,964
LIVE
NSE
Jul 23, 12:40
215.10
-2.4 (-1.1%)
VOLUME 65,000
Company History - State Trading Corporation of India
YEAR                       EVENTS
 1956 - The Company was incorporated as a private limited company on
 18th
        May, 1956 and converted into a Public Ltd. Company on 31st
        January 1992.  The Corporation was formed to organise and
 effect
        exports from and imports into India of all such goods and
        commodities as it may from time to time determine.
 
      - The company has been entrusted with purchase, import and
        distribution of cement as well as purchase and sale of
 imported
        cars.  It also undertakes price support and buffer stock
        operations in specific commodities as directed by Govt.
 
 1959 - 1,00,000 shares subscribed for by the Govt. of India.
 
 1963 - On 26th September, the State Trading Corporation was
 bifurcated
        by the establishment of the Minerals and Metals Trading
        Corporation of India, Ltd.  The new Corporation took over all
 the
        assets and liabilities pertaining to the minerals and metals
        trade as on 1st October.
 
 1969 - 3,00,000 bonus shares issued.
 
 1975 - 5,00,000 bonus shares issued.
 
 1977 - 2,00,000 bonus shares issued.
 
 1978 - 3,00,000 bonus shares issued.
 
 1992 - The Company was nominated by the Govt. of India as its agency
 for
        sale of 47000 MTs of crude degumment solvent extracted
 soyabean
        oil received under the auspicies of USAID.
 
      - The Corporation entered into MOUs with a few selected
 industrial
        houses for making available to the Corporation, their
 products
        for exports.  STC was to render their marketing assistance.
 
      - A Trade Development Cell (TDC) was set up with the intention
 of
        developing non-canalised trade including merchanting trade.
 
      - Tea Trading Corporation of India Ltd. is the only subsidiary
 of
        the corporation.  The Cashew Corporation of India Ltd. (CCI),
        wholly owned subsidiary of STC was merged with the Corporation
 as
        per notification dated 21st April.
 
      - The Corporation has introduced link, barter and parallel deals
 as
        an instrument of export promotion to augment exports and
 arrest 
        the downward trend in the export of certain commodities to
        specific destinations.
 
      - Equity shares subdivided on 31.1.1992.  150,00,000 bonus
 shares
        issued in prop. 1:1.
 
 1993 - The Corporation sold the oil recently from crushing
 operations
        under its own brand name Ragini and Darpan.
 
 1994 - The Corporation entered into an agreement with COMARK, a
        multistate cooperative federation of about 3000 coffee
 growers
        for handling their entire exports and part of domestic
 marketing.
 
      - As on 31st March, the Corporation, had disinvested 23,93,200  
  
        shares to various Mutual Funds/Financial Institution
 comprising
        9% of the equity capital of the Corporation.
 
      - The Corporation decided to enter into joint venture in order
 to
        develop captive supply source for exports.  Five projects in
 the
        area of core competence viz. acquaculture, footwear,
 mushrooms,
        and bio-technology were identified.
 
 1995 - With a view to developing captive sources supply for exports,
 the
        Corporation entered into joint ventures with two aqua culture
        units - Bluegold Maritech International Ltd. & Richfield
 Aquatech
        Ltd.  Also, the Corporation finalised three more joint
 ventures
        two in the field of grey fabrics and one in mushrooms
 involving a
        total investment of Rs 4 crores.
 
 1996 - The STC ventured into import of gold/silver and export of
        jewellery in terms of present export/import policy.  It has
 set
        up vaults at New Delhi, Mumbai & Ahmedabad.
 
      - The Company entered into a MOU with Srilanka Pharmaceuticals
        Corporation (SPC) Colombo by which STC would act as the modal
        agency for their purchases of drugs and pharmaceuticals from
        India.
 
      - Another MOU was entered into with Haffkeme Bio
 Pharmaceuticals,
        Mumbai by which STC would act as the sole exporting arms of
 all
        Haffkeme products especially serums and vaccines; A
 distributor
        was appointed at Turkey for serums and vaccines manufactured
 by
        Haffkeme.
 
 2002
 
 -STC ties up with Power Finance Corporation to reduce the end cost of
 power.
 
 2003
 
 -STC appoints Mr A S Arora, AS&FA, Minitry of Commerce  as Part time
 Director on the 
 board of the company.
 
 2005
 
 -STATE Trading Corporation of India Ltd (STC) has signed a MoU with
 the Commerce Ministry for 2005-06 to indicate its physical targets
 and other performance parameters for the next fiscal.
 
 2006
 
 -Govt permits STC to export 1.5 lakh t sugar
 
 -STC to roll out regional brands
 
 2008
 
 
 -The Company has issued Bonus Shares in the Ratio of 1:1.
 
 2010
 
 - State Trading Corporation of India Ltd has informed BSE that
 Government of India, Ministry of Commerce and Industry, Department of
 Commerce Vide its order dated January 13, 2010 has appointed Shri P.
 K. Chaudhery, Additional Secretary, Department of Commerce as
 Director on the Board of STC with immediate effect vice Shri R.
 Gopalan.
 
 2011
 
 -Shri Udai N. Abhyankar, Former IFS Officer Board of Director of The
 State Trading Corporation of India Ltd.
 
 
 2012
 
 -39th rank in terms of net sales among Top 500 Companies by Financial
 Express (Feb’2012). 
 
 
 -Won award for Gentle Giant Miniratna - I (Largest Non-Manufacturing
 Company) at the Third DSIJ PSU Awards 2011 ceremony held at New
 Delhi.
 
 
 -32nd rank in terms of net sales among Top 1000 Companies by Business
 Standard (Mar’2012). 
 
 
Source : Dion Global Solutions Limited
Quick Links for State Trading Corporation of India
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.